Quote:
Originally Posted by jamesqf
Buying a car is NOT an investment.
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A car is definitely an investment. Putting money into anything tangible is an investment. Getting something out of it does not need to mean financial gain- investing in a car expands ones range of opportunity, and changes their value of time.
If one lived 10 miles from their job, their time has a different value if they can drive that ten miles, or have to walk (I have heard of a bike, but if you want to try and bike 10 miles in Northern Ohio during winter, you need a straight jacket first).
A $300 vehicle that runs is an investment for a person who has close to nothing, and wants to expand the range of jobs they can get to. Or, move further from their job to get more affordable housing.
Saying he only
lost 17k instead of 24k is a bit...well, absurd. The car is not completely valueless. Even if completely totaled or stolen, I'm sure Redpoint has insurance, let alone the value of the car as a fun car, and any utility he gets from it. To say buying a car is the same as burning money, a total loss, is not accurate.